New report from Hoozu and IZEA confirms influencer marketing’s effectiveness
IZEA and Hoozu – a content and influencer specialist agency – have released a report that delves into the effectiveness of influencer marketing.
The announcement:
Over half of Australians aged 18 to 29 are more likely to try a new product based on an influencer’s post, according to a new report by IZEA in collaboration with influencer and content specialist agency Hoozu.
The 2024 Australian Trust in Influencer Marketing report surveyed over 1,000 Australian social media users, revealing insights into the shifting landscape of advertising and the growing dominance of influencer marketing.
The report highlights a notable difference in perceptions across age groups towards advertising channels. Less than 25% of respondents aged 18 to 29 say their shopping decisions are influenced by TV ads, compared to 61% of people 60+.
Conversely social channels impacted just 17% of over 60s, compared to 52% of 18-29 year olds, demonstrating how media habits have shifted significantly between generations and the need for brands to continue to adapt their marketing strategies to get noticed by younger customers.
Notably, the study found that social media shopping features are becoming increasingly popular, with 64% of all respondents having purchased a product through a social media platform’s shopping feature, or being open to doing so.
This trend illustrates the growing integration of commerce within social media platforms, providing a seamless shopping experience for consumers and new opportunities for brands to reach potential customers.
Key Findings:
- Influencer advertising effectiveness: 52% of respondents aged 18 to 29 are more likely to try a new product based on an influencer post, highlighting the significant influence of social media personalities.
- Radio and magazine obscurity: Less than 7% of respondents aged 18 to 29 are influenced by radio and magazine ads to try new products, showing a sharp decline in traditional media’s effectiveness.
- Banner ad effectiveness: Banner ads are the least effective among online advertising methods, with only 3-6% of respondents in all age groups being influenced by them.
- Influencer impact: 46% of respondents have purchased a product after seeing it used by an influencer, emphasising the power of influencer endorsements over traditional advertising methods.
- Social media shopping features: 64% of all respondents have purchased a product through a social media platform’s shopping feature or are open to doing so, indicating the growing trend of social shopping.
- Trust in influencers: Authenticity and transparency are crucial, with 41% of respondents more likely to trust a sponsored post from an influencer than from an A-list celebrity.
Natalie Giddings, managing director of Hoozu, commented on the findings: “The way Australians get their inspiration has changed drastically in the past decade, and this report underscores the critical role influencers now play in shaping consumer preferences.
“The number of people open to making a living as an influencer and open to buying things from social media sites suggests a far more open and trusting attitude towards this form of entertainment and promotion than many may have expected among the general population.
“All indications point to a continued rise in influencer influence in consumers’ lives, so brands of all types need to be more focused on harnessing this powerful promotional channel to drive affinity and sales.”
Source: Clear Hayes Consulting
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